UK wide independent financial planning group Wren Sterling has acquired Dunfermline-based TD Armstrong Financial Planning.
In a statement, the company said that chartered financial planners Max Horne and Fraser Rowan will join Wren Sterling as part of the deal, along with account manager Trudi Horne.
In addition, Wren Sterling will secure £116m of assets under advice, taking its group total to £3.3bn.
Ian Halley, chief executive officer of Wren Sterling, said: "This acquisition is an exciting step for Wren Sterling because it further supports the growth of our business.
"I’m looking forward to working with Max and his team to embed these clients into our business ensuring they continue to have access to independent financial planning services."
Wren Sterling has repeatedly been on the acquisition trail over the past three years, acquiring back books from Northern Ireland’s First Trust Bank and the Leek United Building Society.
Mr Halley added that the company was on the lookout for other opportunities to grow the business where "there is a good cultural fit between the businesses and it’s clear that a transaction will secure clients’ access to advice and enable advisers to plan for their succession."
David Hearne, a director and wealth management adviser at Satis Asset Management, said: "Consolidators seem happy to pick up geographically diverse firms."
He said: "Whether this is intended to build a national advice business or is a swift route to build assets under management, I’m not sure. I’m surprised to not see more consolidation within a particular region, or within a particular client niche."
Wren Sterling advices on pensions, investments, protection, estate planning and employee benefits, among other areas.
